A fixed deposit of Rs. 1,00,000 in a bank earns an interest of Rs. 14,490 @7% compounded annually. What is the time period of the deposit ?
1
\(1\frac{1}{2}\) years
2
2 years
3
\(2\frac{1}{2}\) years
4
3 years
A fixed deposit of Rs. 1,00,000 in a bank earns an interest of Rs. 14,490 @7% compounded annually. What is the time period of the deposit ?